Taksheel Solutions' IPO Subscribed 2.99 Times On Last Day (05-Oct-2011)
Taksheel Solutions', an IT solution company's, initial public offer (IPO) received good response on last day of issue and was subscribed 2.99 times. As per the data available with the NSE, total bid of 16430220 shares were received for the issue of 5500000 shares, 10710450 bids were received at the cut-off price.
The issue closed on October 04, 2011. The company had set price band of Rs 130 to Rs 150. PNB Investment Services is the book running lead manager and Bigshare Services is the registrar to the issue.
The company intends to utilize the issue proceeds towards capital expenditure for setting up a new SEZ software development center at Hyderabad, capital expenditure for setting up a new SEZ software development center at Warangal, acquisitions and other strategic initiatives, financing the working capital requirements and general corporate purpose.
Taksheel Solutions, 100% EOU and ISO 9001: 2008 certified company, was incorporated in the year 1999 in Hyderabad. It is engaged in providing products and services for the companies engaged in financial services industry & Telecom. The company is headquartered in Hyderabad, with an office in North America.
The company's solutions/services, in general technical areas, include the following, Wealth Management Solutions; Telecom Solutions; Application Development & Maintenance; Data Warehousing & Business Intelligence; Offshore Outsourcing.
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